Regional News

Singapore is grappling with an alarming increase in cyberattacks, with Kaspersky’s latest research revealing that its solutions intercepted 6.49 million attacks from various online sources in 2024. The report highlights a significant rise in exploit-based attacks, password stealers, and backdoor intrusions, with figures continuing to escalate into 2025.

Across the Asia-Pacific (APAC) region, incident response requests more than doubled, rising from 3.6% to 7.3%. Kaspersky blocked over 62 million attacks, including 16.6 million backdoor attacks and 219,000 involving banking malware. Notably, the region accounted for over 8 million ransomware attacks, representing 55% of the global total.

The sophistication of cyberthreats is increasing, driven by technological advancements. In 2024, 467,000 new malicious samples were detected daily, a stark contrast to one new threat per second in 2011. The rise of Artificial Intelligence (AI) has facilitated cybercrime, enabling attackers to craft convincing phishing attacks and automate malicious activities. AI-powered ransomware groups, such as FunkSec, have emerged, targeting sectors like government, technology, finance, and education.

Igor Kuznetsov, Director of the Global Research and Analysis Team at Kaspersky, stated, “We’re witnessing persistent increases in the volume of cyberattacks both in Singapore and regionally. These attacks are getting stealthier and less predictable, as cybercriminals leverage AI to enhance and invent new ways of executing their malicious campaigns.”

To combat these threats, Kaspersky recommends limiting the sharing of sensitive information online, verifying unsolicited communications, scrutinising for deepfakes, installing apps from official stores, downloading reliable security solutions, and enabling safe browsing features. As cyberthreats continue to evolve, individuals and organisations must bolster their cybersecurity defences to prevent significant data and financial losses.

The National University Hospital (NUH) has been honoured with five prestigious awards at the Hospital Management Asia (HMA) Awards on 11 September 2025, recognising its achievements in AI-driven solutions, sustainability initiatives, and workforce resilience. The accolades highlight NUH’s commitment to advancing healthcare through innovative projects.

Among the award-winning initiatives, the ‘Water-Less ICU’ project received the HMA Gold award in the Infection Control Excellence category. This project tackled late-onset gram-negative sepsis in the neonatal intensive care unit by redesigning infrastructure and workflows, resulting in a 50% reduction in sepsis cases among very low birth weight infants.

In the Best in Talent Development category, NUH’s ‘Caring for Caregivers’ programme was recognised for fostering psychological safety and resilience among Emergency Department staff. A survey showed 92% of participants felt their work was meaningful, reflecting the programme’s success.

The ‘CalSense+’ initiative, which uses AI to detect hypercalcaemia, won in the Advanced Healthcare Technology category. Since its launch in January 2024, it has improved detection rates and reduced the time to follow-up care by 50%.

NUH’s commitment to sustainability was also acknowledged. The ‘Optimising Care for Patients with Cellulitis’ project improved discharge processes, increasing the percentage of timely discharges from 48% to over 80%. Additionally, the ‘Healing Patients Whilst Healing the World’ project, which promotes green practices, won in the Most Sustainable Hospital category.

These awards underscore NUH’s role as a leader in healthcare innovation and sustainability, with plans to expand successful initiatives across other areas.

Grace Lu has rejoined Russell Reynolds Associates (RRA) in Singapore as Managing Director for the Healthcare Practice, after her tenure in Beijing. Lu will now lead the firm’s Healthcare Practice across Asia Pacific, enhancing RRA’s commitment to transformative leadership solutions for healthcare organisations.

Lu is renowned for her expertise in healthcare, advising both multinational and local organisations on executive recruitment, leadership assessment, and organisational transformation. Her strategic insights have been pivotal in helping clients navigate complex market dynamics and drive patient-centric innovation. Euan Kenworthy, who oversees RRA’s operations in Southeast Asia, expressed enthusiasm about Lu’s return, stating, “Her return brings invaluable continuity and deep sector knowledge to our team.”

Reflecting on her new role, Lu said, “I am truly excited to be rejoining the Singapore team and reconnecting with colleagues and clients in this dynamic market. Having spent time in China, I hope to bring fresh perspectives and renewed energy to help our healthcare clients navigate the opportunities and challenges ahead.”

Ulrike Wieduwilt, Greater China Country Leader at RRA, acknowledged Lu’s contributions in Beijing, noting her instrumental role in advancing the healthcare practice in Greater China. Wieduwilt added, “Whilst we will miss her presence in Greater China, we are excited for her as she returns to Singapore.”

Lu’s academic credentials include a BS in economics from the London School of Economics and Political Science, an MS in international policy studies from Stanford University, and an MBA from the London Business School. Her return is expected to significantly impact RRA’s healthcare initiatives across the region.

Rental volumes for both HDB flats and condominiums in Singapore saw a decline in August 2025, according to the latest 99-SRX Media Flash Report. The Seventh Lunar Month, a period traditionally associated with reduced moving activity, contributed to this slowdown. Additionally, families with school-going children typically secure leases earlier in the year, further easing demand by August.

In the condo rental market, prices remained stable overall, with the Core Central Region (CCR) and Rest of Central Region (RCR) experiencing slight increases of 0.4% and 0.8%, respectively. The Outside Central Region (OCR) saw a minor decrease of 0.1% compared to July 2025. Year-on-year, rental prices rose by 2.9% overall, with CCR, RCR, and OCR increasing by 3.4%, 3.2%, and 2%, respectively. Rental volumes dropped by 8.6% month-on-month, with 7,949 units rented in August compared to 8,695 in July. However, volumes were 6.4% higher year-on-year and exceeded the five-year average for August by 4.7%.

The HDB rental market experienced a 0.8% decrease in prices compared to July 2025, with Mature and Non-Mature estates seeing declines of 1.1% and 0.4%, respectively. Prices for 3-room, 4-room, and Executive flats fell, whilst 5-room flats saw a slight increase of 0.1%. Overall, rental prices increased by 2.8% year-on-year. Rental volumes decreased by 13% month-on-month, with 2,758 flats rented in August compared to 3,170 in July. Year-on-year, rental volumes rose by 3.8% and were 3.9% above the five-year average for August.

Luqman Hakim, Chief Data & Analytics Officer at 99.co, noted that tenants might be delaying renewals or new leases in anticipation of more supply from newly completed projects later in the year.

Amazon Singapore has expanded its Amazon Fresh service to include a wide range of authentic French and premium grocery products. This expansion, announced today, introduces over 400 new items from Carrefour, Le Petit Depot, and Huber’s Butchery, making French culinary delights more accessible to Singaporean customers.

The new selection features a variety of French pantry staples, premium wines, artisanal delicacies, and high-quality meats. Alex Hough, Category Leader at Amazon Fresh Singapore, expressed enthusiasm about the launch, stating, “We’re excited to bring customers in Singapore a wider selection of authentic French groceries and premium meats with the convenience and reliability they’ve come to expect from Amazon.”

Carrefour contributes over 150 products, including chilled and frozen specialities, organic options, and personal care items. Le Petit Depot adds more than 200 products, showcasing French gastronomy with items like LU Prince Chocolate Biscuits and gourmet champagnes. Huber’s Butchery offers over 100 premium meat products, including marbled Angus Beef Ribeye Steak and Chicken Harissa Sausages.

To celebrate the launch, Amazon Singapore is offering a 15% discount on any three items from the French selection, as well as a complimentary bamboo cutting board with a minimum spend of $58 (S$80). These promotions are available throughout September.

This expansion not only enhances Amazon Fresh’s offerings but also strengthens the presence of French culinary products in Singapore, providing customers with greater variety and convenience.

The Singapore FinTech Festival (SFF) 2025, celebrating its 10th anniversary, is set to take place from 12 to 14 November at the Singapore EXPO. Organised by the Monetary Authority of Singapore (MAS), the Global Finance & Technology Network (GFTN), and Constellar, the event will bring together over a thousand global leaders in finance, technology, and policy. The focus will be on how Artificial Intelligence (AI), Tokenisation, and Quantum Computing can enhance the global financial system.

The festival, which attracted 65,000 participants from 134 countries last year, will feature keynotes, panels, and roundtables. Notable speakers include Dr Roy Fielding, Nandan Nilekani, and Dr Paul Taylor, who have significantly influenced the financial sector’s digital transformation. The event will also highlight insights from over 20 visionary founders from Singapore and Asia.

SFF 2025 will delve into the transformative potential of AI, Tokenisation, and Quantum Computing through over 70 focused sessions. Discussions will cover AI’s impact on risk management and financial inclusion, Tokenisation’s role in capital markets, and the evolution of cybersecurity in light of Quantum Computing advances.

Kenneth Gay, Chief FinTech Officer of MAS, emphasised the festival’s role in bridging financial services and technology over the past decade. Sopnendu Mohanty, CEO of GFTN, highlighted the event’s importance in addressing global finance gaps and fostering inclusive infrastructure.

Registration for SFF 2025 is now open, with complimentary tickets available for select groups. The festival promises to be a pivotal platform for innovation and collaboration in the financial sector.

DBS, Franklin Templeton, and Ripple have announced a partnership to offer accredited and institutional investors innovative trading and lending solutions. This initiative, powered by tokenised money market funds and Ripple’s RLUSD stablecoin, aims to enhance portfolio management for digital asset investors. The collaboration was formalised with a memorandum of understanding signed on 18 September 2025.

The partnership allows DBS Digital Exchange clients to trade RLUSD for sgBENJI tokens, Franklin Templeton’s tokenised money market fund. This enables investors to rebalance their portfolios into a stable asset whilst earning yield, even during volatile market conditions. Additionally, DBS plans to explore using sgBENJI tokens as collateral for obtaining credit, either through the bank or third-party platforms.

Franklin Templeton will tokenise sgBENJI on the XRP Ledger, a blockchain known for its speed and low transaction costs. This move aims to strengthen the tokenisation ecosystem by enhancing interoperability across different blockchain networks. Lim Wee Kian, CEO of DBS Digital Exchange, stated, “This partnership demonstrates how tokenised securities can inject greater efficiency and liquidity in global financial markets.”

Roger Bayston, Head of Digital Assets at Franklin Templeton, expressed excitement about the collaboration, highlighting its potential to reshape the global financial ecosystem. Nigel Khakoo, VP at Ripple, described the initiative as a “game-changer” for enabling repo trades with a regulated, stable mode of exchange.

Investors are advised to assess their risk appetite and financial situation before engaging in cryptocurrency trading.

Trip.com has announced a strategic partnership with Traveloka, a prominent travel provider in Southeast Asia, to broaden access to attraction and tour (A&T) products across the region. This collaboration aims to combine Traveloka’s extensive inventory of experiences in Southeast Asia with Trip.com’s robust presence in China, creating a comprehensive network of attractions.

The partnership will enable both companies to share their inventory, enhancing product availability and offering customers a wider choice of authentic local experiences at competitive prices. Traveloka will provide Trip.com users with access to its vast portfolio of Southeast Asian experiences, whilst Trip.com will offer Traveloka users access to its global network of attractions, particularly in China.

Jim Ji, CEO of Attractions & Tours and Vice President at Trip.com Group, stated, “This partnership reflects Trip.com’s commitment to provide travellers with greater choice and convenience, enriching the travel experience for millions of users in Asia and around the world.”

Baidi Li, Vice President Commercial at Traveloka, added, “Through our partnership with Trip.com, we’re putting travellers first—offering them seamless access to a curated selection of exciting attractions, authentic local experiences, best-in-class services, and the confidence that comes with trusted recommendations.”

This agreement marks a significant step in Trip.com’s ongoing efforts to strengthen partnerships across Asia, ensuring travellers have seamless access to a variety of bookable experiences that enhance their journeys.

H2G Green Limited’s subsidiary, GasHub, has successfully commissioned a significant liquefied natural gas (LNG) facility designed to supply a leading food and beverage (F&B) manufacturer. This development marks a pivotal step in enhancing energy efficiency and sustainability within the F&B sector. The facility, which began operations recently, aims to provide a cleaner energy alternative, reducing the carbon footprint of the manufacturing process.

The newly commissioned LNG facility is expected to play a crucial role in the manufacturer’s operations by offering a more sustainable energy source. This aligns with the growing industry trend towards adopting greener technologies and reducing reliance on traditional fossil fuels. The facility’s launch underscores GasHub’s commitment to advancing environmental sustainability in industrial processes.

The introduction of this LNG facility is anticipated to set a precedent for other manufacturers in the region, encouraging the adoption of similar sustainable practices. As industries continue to seek ways to minimise their environmental impact, the role of LNG as a cleaner energy alternative is likely to expand.

Looking ahead, H2G Green Limited plans to explore further opportunities to enhance its green technology offerings, potentially expanding its reach to other sectors in need of sustainable energy solutions.

QAI Ventures, a global venture capital firm, has announced the establishment of its Asia-Pacific headquarters in Singapore, marking it as the nation’s first QuantumAI-focused venture capital firm. In collaboration with Enterprise Singapore, this initiative aims to transform Singapore into a global hub for QuantumAI innovation by accelerating the commercialisation of quantum research into market-ready solutions.

The launch of QAI Ventures in Singapore is a strategic move to leverage the country’s strengths, including visionary government support, a robust talent and intellectual property pipeline, and access to Asia’s high-growth markets. This aligns with Singapore’s National Quantum Strategy, which is backed by nearly S$300 million in funding. The firm has a track record of investing in 27 pioneering companies across Europe and North America and plans to expand its portfolio with a CHF 50m early-stage fund and a $150m growth-stage fund.

QAI Ventures will introduce two flagship programmes in partnership with Enterprise Singapore: a 5-month QuantumAI Accelerator Programme and a Venture Building Programme. These initiatives aim to scale global startups and convert research into globally competitive businesses. The firm will also host the GenQ Quantum Hackathon from 24 to 26 October 2025, as part of SWITCH by Enterprise Singapore, to scout top talent.

Thomas Landis, Managing Director of QAI Ventures in Singapore, will lead the local office, ensuring integration with Singapore’s research community and startups. CEO Alexandra Beckstein expressed excitement about transforming Singapore’s strengths into global quantum businesses. Emily Liew from Enterprise Singapore welcomed the collaboration, emphasising its role in advancing Singapore as a leading global quantum hub.